March 16, 2020 / 6:35 AM / 16 days ago

BRIEF-India's Aro Granite Industries Says Business Marginally Impacted By Covid-19

March 16 (Reuters) - Aro Granite Industries Ltd:

* INDIA’S ARO GRANITE INDUSTRIES SAYS “OUR BUSINESS HAS BEEN MARGINALLY IMPACTED BY COVID-19”

* STRUGGLE FOR SOURCING RAW MATERIAL CONTINUES AT HOSUR PLANT

* DO NOT HAVE ANY COMMERCIAL DEALINGS FOR SALES OR PURCHASE OF CONSUMABLES WITH CHINA

* AS OF NOW EXPECT PERFORMANCE SHALL BE IN LINE AS PER EXPECTATIONS

* SHORTAGE AT HOSUR PLANT DRIVEN DUE TO CLOSURE OF GRANITE QUARRIES DUE TO NON-COMPLIANCE WITH ENVIRONMENTAL LAWS

* ARO GRANITE INDUSTRIES - EXCEPT FOR QUARTZ PLANT COMMISSIONING, SITUATION IN CHINA DOES NOT AFFECT CURRENT BUSINESS OF NATURAL STONES

* ARO GRANITE INDUSTRIES - “BIG FALL IN OIL PRICES” MAY LOWER TRANSPORTATION COST OF RAW MATERIALS BUT “THIS WILL NOT BE A BIG IMPACT” Source text for Eikon: Further company coverage:

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